Investing in solar energy is one of the best things you can do for both your electric bill and the planet. As solar energy has many advantages, it’s no surprise more people are hiring solar panel installers and making the switch, especially as Florida offers many extra benefits.
One of the greatest advantages of switching to solar energy is the ability to sell your excess power back to the grid. Florida offers great net metering policies so if you weren’t already thinking of installing solar panels, it’s time to start considering it.
What is Net Metering?
Net metering is a utility rate structure where your utility company is required to buy back any unused power made by your solar panels at full retail price.
With net metering, not only will you save money with your solar panels, you can actually make money. This means there’s no consequence to overproducing energy or using as much as you need. Even if you don’t produce enough solar energy to cover your entire electric bill, you’ll certainly spend less.
Net Metering in Florida
Starting in 2008, Florida has offered net metering benefits to its citizens that use clean energy. Since then, there has been a 10,000% increase in the use of renewable energy systems. The consumer-friendly policies have encouraged more citizens to install solar panels.
Once you’ve been approved for net metering, you are free to sell any unused energy into your local power grid. You’ll need to apply with a utility company in order to be approved, but Florida makes it a relatively easy process to follow.
Some companies have claimed that net metering harms the system rather than helping it. They say that as more people switch to renewable energy, those who continue to use unrenewable energy end up paying higher costs in order to make up for the lack of paying customers.
Fortunately for homeowners, Florida has fought to keep their net metering system fair for those who choose to install solar panels. Check out the full details of net metering in Florida below:
- Capacity limit: 2 MW
- Monthly excess generation credit rate: Full retail
- State-wide metering cap: None
- Applicable utilities: all available utilities
- Additional information: Municipal utilities and electric companies may set their own credit rates
What Happens to Your Net Metering Credit?
Although Florida is called the sunshine state, there are some months of the year where your solar panels may produce too much energy and some months where they won’t produce quite enough. The good news is that you can still benefit from net metering even when your solar panels don’t produce enough power.
During the months where your solar panels produce more than enough energy, you’re able to sell it to utility companies and receive a credit. This credit remains on your electric bill for the remainder of the year.
When your solar panels are unable to produce enough energy and you need to purchase electricity from a company, you’re able to use your credit. If you still have unused credit at the end of the year, you’ll receive a cash credit from most utility companies.
Why is Net Metering Important?
Not all states offer net metering for homes with solar energy, but that doesn’t make it any less important. In Florida, net metering is protected by law, so citizens can continue to reap the benefits of solar energy without worry.
In general, solar panels produce much more power than the average home needs. Even while the home is empty during the workday, solar panels continue to provide energy.
At night, they may not produce enough, but with net metering, you have access to a reliable and continuous stream of power, no matter what the weather is like.
Florida is a state that is actively encouraging the switch towards renewable energy. With so many benefits and offers available for Florida homeowners to install solar panels, now is one of the best times to make the change.